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The differences between bank consultants and home mortgage consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a bank consultant and a home mortgage consultant. Additionally, a bank consultant has an average salary of $90,094, which is higher than the $36,437 average annual salary of a home mortgage consultant.
The top three skills for a bank consultant include customer service, powerpoint and risk management. The most important skills for a home mortgage consultant are customer service, financial professionals, and NMLS.
| Bank Consultant | Home Mortgage Consultant | |
| Yearly salary | $90,094 | $36,437 |
| Hourly rate | $43.31 | $17.52 |
| Growth rate | 4% | 4% |
| Number of jobs | 17,023 | 53,987 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
A bank consultant focuses on identifying and meeting the clients' needs through effective banking advice and guidance. Their daily tasks entail greeting and offering assistance to clients, answering inquiries, discussing terms, recommending options and other services, making arrangements, and processing the clients' applications. They also perform clerical tasks such as handling calls and inquiries, preparing documents, reviewing reports, producing financial statements, and maintaining records. Moreover, a bank consultant maintains an open communication line with co-workers, coordinating to provide clients with optimal services.
Mortgage Consultants work to help people or businesses find the right lenders to get a mortgage from. They work with customers to find options that fit their current circumstances and financial capacity. They deal with lending institutions (banks, credit unions, mortgage bankers, or savings and loan associations) and act on behalf of potential borrowers to get the best deals. Consultants prefer working as independent contractors and not work for lending institutions and convince real estate agents to recommend them to clients when they apply for a loan.
Bank consultants and home mortgage consultants have different pay scales, as shown below.
| Bank Consultant | Home Mortgage Consultant | |
| Average salary | $90,094 | $36,437 |
| Salary range | Between $68,000 And $118,000 | Between $26,000 And $50,000 |
| Highest paying City | Marysville, WA | - |
| Highest paying state | Washington | - |
| Best paying company | Inter-American Development Bank | - |
| Best paying industry | Technology | - |
There are a few differences between a bank consultant and a home mortgage consultant in terms of educational background:
| Bank Consultant | Home Mortgage Consultant | |
| Most common degree | Bachelor's Degree, 69% | Bachelor's Degree, 72% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between bank consultants' and home mortgage consultants' demographics:
| Bank Consultant | Home Mortgage Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 59.0% Female, 41.0% | Male, 62.7% Female, 37.3% |
| Race ratio | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% | Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |